Arcontech Group PLC - London-based provider of real-time financial market data and services - Revenue for the six months ended on December 31 decreases by 6.6% to GBP1.4 million from GBP1.5 million a year before, due to the effect of contract losses announced during the previous financial year. Pretax profit drops by 13% to GBP372,414 from GBP428,924, as operating profit falls to GBP361,405 from GBP430,619. Looking ahead, expects revenue and pretax profit for the year to June 30 to be in line with current expectations.
Chair Geoff Wicks says: "Our strategy to support our existing customers to maximise opportunities while building our sales capability to grow our customer base globally, ensures we focus on growth in our core market. We are starting to see small amounts of growth and are confident that this will continue, although this must be balanced against continuing difficult markets for our customers."
Current stock price: 73.00 pence each, up 3.5% on Monday around midday in London
12-month change: down 15%
By Xindi Wei, Alliance News reporter
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Arcontech Group (ARC)